PT Wintermar Offshore Marine Tbk (WINS) has acquired the remaining 52.5% of Fast Offshore Supply Pte Ltd (FOS) and 49% of PT Fast Offshore Indonesia (FOI), gaining full control of both entities. The acquisition, valued at US$26 million for FOS and US$7 million for FOI, positions WINS to fully consolidate earnings from five new aluminum crew transfer vessels (CTVs) under a five-year charter and a separate shipbuilding contract for five additional CTVs.
FOS, a specialized shipbuilder with a yard in Singapore, has supplied offshore vessels in Brunei for a decade. In 2025, it won an international tender to supply five next-generation CTVs to a major oil company in Brunei, with delivery in 2027. These 55-meter vessels are designed for high operability, featuring motion-compensated gangways, DP systems, triple bow thrusters, and four CAT engines delivering 9,000 BHP coupled with Hamilton HT810 waterjets. The charter includes options to extend beyond the initial five years. Additionally, FOS secured a contract to build and sell five more CTVs by 2028.
The acquisition increases WINS’ high-tier fleet from 12 to 22 units, including the newbuilds, and its DP fleet to 25 units. With the average fleet age previously at 16 years, the addition of these new DP vessels with long-term contracts brings the average age down to 14 years, enhancing earnings visibility. The transaction also introduces a new earnings stream from shipbuilding.
The acquisition prices were supported by an independent valuation and a fairness opinion from KJPP Tri, Santi dan Rekan, dated 17 June 2026, complying with OJK regulation POJK 42/2020. The price-to-book ratios were 1.01% for FOS and 0.96% for FOI, and the deal is expected to be earnings accretive. WINS will finance the acquisition through internal cash flow and a US$20 million loan.
Following the acquisition, FOI will be converted into a wholly domestic Indonesian company compliant with cabotage regulations, focusing on supplying Indonesian-flagged aluminum vessels in anticipation of stronger local demand. The consolidation allows WINS to fully capture the financial upside of the charter and shipbuilding contracts without minority leakage.
With strong oil prices driving demand for offshore support vessels and limited new supply, this acquisition strengthens WINS’ position as a leading OSV owner and operator of DP vessels in Asia. For more information, visit www.wintermar.com.
